The Reserve Bank of New Zealand is on record as regarding two years as a reasonable time for the transmission of monetary policy into the real economy.

The first rate cut from them was in August 2024.

Governor Orr:

  • Real economy is lagging reduction in interest rates, that's a concern

Anyway, the RBNZ, like central banks all over the globe, is staffed by wall-to-wall PhDs. What do I know?

Reserve Bank of New Zealand rbnz 17 July 2024 2